Sunday, July 30, 2017

Estimated Chinese Gold Reserves Surpass 20,000t

“Appear weak when you are strong, and strong when you are weak.” “The supreme art of war is to subdue the enemy without fighting.” - Sun Tzu, The Art of War

The People's Bank of China (PBOC) declares it has official gold reserves of 1840 tons.  Most pundits close to the PBOC acknowledge they have north of 4000 tons.  Koos Jansen says mainland China has over 20,000 tons.  In their estimation, at some point, the PBOC will have enough gold commensurate with their economy and declare their actual inventory, not their understated tonnage.

In doing so, they will also declare the renminbi (yuan) will be backed by gold, and that oil imports will be traded in contracts based on the remnibi, not in dollars any longer.

The US will declare a trade war on China as oil and consumer prices skyrocket, while the dollar collapses.

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